Q1 2025 PetVivo Holdings Inc Earnings Call Transcript
Key Points
- Revenue growth driven by distributor sales, which more than doubled over the past year.
- Maintained highly favorable gross margins of 89.5%.
- Distribution of Spryng surpassed more than 800 veterinary clinics across 50 states.
- Operating expenses decreased by 28% due to strategic cost reduction and corporate restructuring.
- Net loss improved to $2 million from $2.9 million in the same year-ago quarter.
- Sales to veterinary clinics declined 33% compared to the year-ago period.
- Cash and cash equivalents totaled only $12,000 at the end of the quarter.
- Net cash used in operating activities decreased but still significant at $633,000.
- The company is still facing a net loss, albeit improved.
- Dependency on continued market adoption and successful clinical studies for future growth.
Good afternoon, everyone. Thank you for joining us today to discuss PetVivoâs results for its fiscal first quarter ended June 30, 2024.
Hosting the call today are the Chief Executive Officer of PetVivo, John Lai; the companyâs Chief Financial Officer, Garry Lowenthal; and myself, John Dolan, Chief Business Development Officer and General Counsel.
Following remarks of the host, weâll open the call to your questions. The operator will explain how to participate in the Q&A following the presentation by the host.
Before we conclude todayâs call, Iâll provide some important cautions regarding the forward-looking statements made by management during the call. Iâd like to remind everyone that todayâs call is being recorded and it will be made available for telecom replay for the instruction in todayâs press release, which is available in the Investor Relations section of the companyâs website.
Before we venture into the details of the first quarter of
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